Alliancebernstein L.P. Sells 405,550 Shares of Stellantis (NYSE:STLA)

Alliancebernstein L.P. lowered its position in shares of Stellantis (NYSE:STLA - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,810,525 shares of the company's stock after selling 405,550 shares during the quarter. Alliancebernstein L.P. owned approximately 0.09% of Stellantis worth $36,677,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in STLA. Geneos Wealth Management Inc. acquired a new stake in shares of Stellantis during the fourth quarter worth $26,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Stellantis by 67.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company's stock worth $48,000 after purchasing an additional 1,489 shares during the period. Spire Wealth Management grew its stake in Stellantis by 29.7% in the fourth quarter. Spire Wealth Management now owns 5,291 shares of the company's stock valued at $69,000 after acquiring an additional 1,211 shares during the period. Central Pacific Bank Trust Division grew its stake in Stellantis by 160.0% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company's stock valued at $85,000 after acquiring an additional 4,000 shares during the period. Finally, Life Planning Partners Inc acquired a new position in Stellantis in the fourth quarter valued at about $85,000. Institutional investors own 59.48% of the company's stock.

Wall Street Analysts Forecast Growth

STLA has been the topic of several analyst reports. Piper Sandler lowered Stellantis from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. TD Cowen initiated coverage on Stellantis in a research note on Friday, March 7th. They issued a "hold" rating and a $13.00 price objective on the stock. Finally, Cowen initiated coverage on Stellantis in a research report on Thursday, March 6th. They issued a "hold" rating on the stock. Nine investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Stellantis currently has an average rating of "Hold" and an average price target of $19.27.

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Stellantis Price Performance

Shares of STLA stock traded down $1.18 during trading hours on Thursday, reaching $8.95. The company's stock had a trading volume of 10,087,920 shares, compared to its average volume of 10,027,431. The firm's 50 day simple moving average is $12.30 and its 200-day simple moving average is $12.95. The company has a market capitalization of $27.04 billion, a price-to-earnings ratio of 2.63 and a beta of 1.44. Stellantis has a fifty-two week low of $8.39 and a fifty-two week high of $27.21. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26.

Stellantis Company Profile

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.